Roti, Kapda, Makaan and Crypto: Chasing Dreams Or Digital Delusions?

The Indian dream of roti, kapda, makaan has always been a simple yet powerful trifecta. It stands for everything we hold dear: food on the table, clothes on our backs and a roof over our heads. But now, it seems a fourth contender has entered the race — crypto.Yes, the shiny, mysterious world of digital tokens has elbowed its way into our cultural lexicon, not for its contribution to sustenance, fashion or shelter, but because it promises something even more seductive: overnight riches. And let's face it, who doesn't want to go from chai-sipping regular to yacht-owning legend with one Bitcoin trade?.India's crypto market has grown rapidly, with over 19 million investors. This includes a significant demographic skew, with 75% of these investors falling in the age group of 18–35 years.Enter FOMO — the fear of missing out — a concept millennials and Gen Z are far too familiar with. If you haven't been accosted by a self-proclaimed crypto guru on Instagram, sporting a rented Lamborghini and a suspiciously fake accent, have you even lived? These pied pipers of digital gold lure us in with catchphrases like "Don't just hustle, crypto-hustle!" and "If you're not in it, you're falling behind!"It's a glittering world of charts, memes and absurd acronyms (seriously, what is HODL?), where rationality takes a backseat and greed drives the Tesla. Who needs SIPs or property investments when you can "hodl" a coin and wake up a millionaire? The logic is as seductive as it is flawed..Do We Even Need Regulations In A Tech-Driven Financial Sector?.But here's the kicker: most of us don't have the faintest clue what we're investing in. Try asking an average crypto enthusiast to explain blockchain, and you're likely to hear something that sounds like an engineering student trying to bluff their way through a viva. Terms like decentralisation, mining and wallets are thrown around with the same confidence as Bollywood actors promoting fairness creams — impressive, but fundamentally hollow.And yet, the FOMO persists. After all, if your friend doubled his money on crypto, surely you can too? Especially now that President-to-be Trump also supports crypto.The reality, however, is far less romantic. Unlike investments with tangible value — think stocks, mutual funds, or even good-old real estate — crypto often lacks a foundation in societal or economic worth. A company's stock rises because it sells more products, innovates or boosts its earnings. Real estate appreciates as demand for land grows. But the value of a digital coin? It's dictated by pure speculation, akin to a game of passing the parcel where the music stops and someone is left holding a worthless bag.And yet, people pour their savings into these tokens, seduced by promises of exponential returns. Stories of skyrocketing prices dominate headlines, while tales of plummeting losses remain conveniently buried. For every young investor who claims to have turned Rs 10,000 into Rs 10 lakh, there are countless others quietly nursing their losses, wondering why they listened to an influencer whose financial advice includes flashing a Rolex in every frame..Banking Movie: BA Pass (Banking Agony).Greed, of course, is not a new phenomenon. It has driven human behaviour since we started trading seashells and bartered objects. But what makes crypto particularly insidious is the veneer of modernity it wears. It masquerades as the future, making anyone who questions it feel like a Luddite, shaking their fists at technology they don't understand."This is the internet all over again," crypto enthusiasts say, conveniently forgetting that the internet gave us email, social media and e-commerce, while most cryptocurrencies have given us... memes.Young professionals, especially in India, should ask themselves a simple question before jumping into the crypto pool: What am I really investing in? Is it innovation, or is it just the hope that someone else will buy this coin for a higher price? Investments should create value — for individuals, communities or economies. They should fund businesses, build infrastructure or, at the very least, provide financial security. Crypto, on the other hand, often does none of these things. It's the financial equivalent of buying a Gucci belt with your first salary — not because you need it, but because everyone else seems to have one.In a country where roti, kapda, makaan still remain aspirational for millions, it's worth reflecting on where our money is best spent. Imagine if the energy spent speculating on Dogecoin was channelled into solving real-world problems — like food security, affordable housing or sustainable fashion. It's not as glamorous as owning a piece of the blockchain, but it's infinitely more impactful..Who Will Lead Your Legacy? The Uncomfortable Truth About Succession Planning.To be clear, this isn't an argument against technology or innovation. Blockchain has genuine applications, from streamlining supply chains to enhancing cybersecurity. But most cryptocurrencies are not solving problems — they're creating speculative bubbles. And as history has shown us, bubbles have an unfortunate tendency to burst.Let's not forget the environmental cost, either. The energy consumption of crypto mining rivals that of entire countries. In an age where climate change demands urgent action, pouring resources into a system that guzzles electricity with no tangible output feels not just irresponsible but absurd. For a nation like India, striving to balance development with sustainability, the crypto craze is a step in the wrong direction.But perhaps the most ironic aspect of all is this: crypto was supposed to democratise wealth, to liberate people from the clutches of centralised systems. Instead, it has become a tool for the very elites it sought to dethrone. Hedge funds, venture capitalists and tech moguls are the real winners, using their influence to manipulate markets, while retail investors scramble to keep up. It's capitalism at its most cynical, wrapped in the language of revolution.True financial success lies in investments that grow with you, not fads that fade away. By all means, explore new frontiers — but don't let your hard-earned roti, kapda, makaan be collateral for the promise of digital gold. As they say in the investment world: don't put your bread on the blockchain until you know what’s cooking..The author is a corporate adviser and independent director on corporate boards. He tweets as @ssmumbai.Disclaimer: The views expressed here are those of the author and do not necessarily represent the views of NDTV Profit or its editorial team..Why Green Finance Must Move Beyond Slogans And Tick-Boxes

Roti, Kapda, Makaan and Crypto: Chasing Dreams Or Digital Delusions?

Is crypto the fourth pillar of the Indian dream, or just a shiny bubble waiting to burst?

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